Time is of the Essence

When I taught two weeks ago, we were running short on time. Once in a while, there was some point that really needed more explanation and would make much more sense to a class of more experienced agents (these guys were rookies). I would joke, "Well, when you take my advanced class, we cover that in greater detail."

Anyways... I was asked to write an advanced class. I spent all afternoon Monday writing an outline for an advanced class. I am calling it "Time is of the Essence" and it is all about the ways a party can get out of the contract or be in breach if they don't follow the timelines in the contract.

Today I am meeting with my title rep, Sarah, and I plan on picking her brain for areas where agents are not so savvy and miss potential breaches or the loopholes to get out. I need material.

But, here's an example of what I mean: say a buyer has an extra-large truck that won't fit into a garage. The HOA documents come out in the middle of the sale, saying that the buyer cannot park their extra-large truck in the driveway. Is the buyer stuck in the sale? Nope. They have five days to back out, citing disapproval of the HOA's covenants, conditions and restrictions. I am shocked at the number of agents who do not know this is an option and would tell their clients they are just out of luck they are spending one-third of a million dollars (or more) but have nowhere to park their truck. (true story).

Now then, I have absolutely no idea if Beth will like the direction I am going--I've never written a class before. Once I have her initial blessing, I have to firm it up, and put it in the right format for the Department of Real Estate. Then the class has to be approved. But the hardest part is done--just coming up with that "Advanced class."